Bank of New York Mellon Corp cut its position in shares of BlackRock (NYSE:BLK - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,093,293 shares of the asset manager's stock after selling 9,350 shares during the period. Bank of New York Mellon Corp owned about 0.70% of BlackRock worth $1,034,781,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after acquiring an additional 633,779 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of BlackRock by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 52,463 shares of the asset manager's stock valued at $53,780,000 after acquiring an additional 513 shares in the last quarter. Assetmark Inc. raised its holdings in shares of BlackRock by 16.3% in the fourth quarter. Assetmark Inc. now owns 19,958 shares of the asset manager's stock valued at $20,460,000 after acquiring an additional 2,801 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of BlackRock by 0.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 6,949 shares of the asset manager's stock valued at $7,124,000 after acquiring an additional 23 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock Trading Up 0.5%
NYSE BLK traded up $5.71 on Friday, reaching $1,076.28. 342,684 shares of the company were exchanged, compared to its average volume of 696,095. The business's fifty day moving average price is $979.68 and its 200 day moving average price is $969.64. The stock has a market capitalization of $166.75 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22.
BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.81 earnings per share. Analysts forecast that BlackRock will post 47.41 earnings per share for the current year.
BlackRock Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.
Insider Activity at BlackRock
In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on BLK shares. Morgan Stanley raised their price objective on BlackRock from $1,111.00 to $1,164.00 and gave the company an "overweight" rating in a research report on Wednesday. Argus raised their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Barclays raised their price objective on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,110.92.
Check Out Our Latest Report on BlackRock
About BlackRock
(
Free Report)
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
See Also

Before you consider BlackRock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock wasn't on the list.
While BlackRock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report